How do crypto games work?

In crypto games, players have full ownership of their game assets, such as XP, virtual currencies, avatars, weapons, etc. They can exchange them for real money or other digital assets, such as stable coins or bitcoins. On the contrary, all the game resources of a traditional game are actually owned by the developers. Traditional games are centralized, meaning that all items and experience (XP) earned during the game cannot be used in other games.

Cryptographic games change this situation by introducing blockchain technology. Players can now use their rewards and items in different crypto game projects. Crypto games go one step further by allowing players to earn money while they play. This is the play-to-win model and can be achieved in a number of ways.

Cryptogames combine the two technologies, either by using a non-fungible token (NFT) marketplace or by allowing players to earn cryptocurrency rewards by playing. Vietnam-based Trung Nguyen founded the gaming startup Sky Mavis, which launched the Ethereum-based game. Crypto betting is now possible with specific categories of games and even tournaments that are played exclusively with Bitcoin, Litecoin or another cryptocurrency. Traditional video games have always had “gift boxes” or “loot boxes” that players could buy or win and open them for random rewards, but now cryptocurrency games are introducing them as well.

They are generally referred to as demonstrably fair games and often have an arcade style or format that is different from traditional casino games. Players can also fight with their Axies to win SLP and AXS, which are Ethereum-based crypto game tokens. If none of these terms make sense to you or you want to learn more about these concepts, read on to learn more about what crypto games are and how they work. Users can also transfer the rewards and purchases they make in-game to other games.

With the age-old user base of games, health experts are concerned that gaming is now part of young people's daily lives, and crypto games will only drive this trend. Although it won't publish its own crypto games, CEO Tim Sweeney tweeted that Epic is thrilled to be working with the first developers on their blockchain-based games. Soon, crypto games will be exciting enough to compete with classic games on the playing field, so they will be able to attract players' attention. So, are you thinking of quitting your job and replacing it with playing from 9 to 5, Monday to Friday, to earn enough to pay the rent, bills, food, clothes, candles, paints and probably the eye drops from the whole game? Well, actually, that's not as impossible as it seems, but it depends on how much you think you would need to live.

Of course, most games don't cost as much as this one, but it's a standard example of games that require an investment before you can start playing. This is an even greater risk for crypto games compared to cryptocurrencies, since operators do not usually have to comply with certain regulations, such as the fight against money laundering, which can increase the risk of fraud. This could solve many of the risks that crypto games are prone to and open up the market to the 31.3 million daily users of Epic Games.

Rafe de la Cruz
Rafe de la Cruz

Obsessed with crypto and gaming. I love spending my free time playing games and learning about the latest technology trends.